QLD Why I bought in Goodna - See Change

Discussion in 'Where to Buy' started by See Change, 20th Feb, 2016.

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  1. Luke T

    Luke T Well-Known Member

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  2. fat cactus

    fat cactus Well-Known Member

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    @See Change Are you still liking Goodna as a place to purchase an IP?
     
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  3. Chelleville48

    Chelleville48 New Member

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    Any thoughts on the new development 20 townhouse estate in Goodna called Park Lane Living in Stuart St by Arkistruct? I'm looking at this as an IP which is due to be completed by August of this year.

    Thanks!
     
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  4. trp35

    trp35 Well-Known Member

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    I only recently entered the property market for the first time (bought a house in Gailes), so take my opinion with a grain of salt.
    17/37 Stuart Street Goodna Qld 4300 - Townhouse for Sale #127360650 - realestate.com.au
    $365k for a townhouse in Goodna doesn't seem like a smart decision. You can get reasonably nice houses for that price (or less) on 600m2, and they don't have the body corporate that comes with it.

    If you're interested in the area I'd recommend buying an older house that requires a bit of work and doing it up. Would save you a lot of money in the short term, and would also be worth a lot more in the long term. It's a win win.
     
  5. Chris Au

    Chris Au Well-Known Member

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    Buying off the plan is buying at developer prices, which may not be the market prices. Better to buy established as this is what the market is charging. Are you working through a broker. What value is the bank putting on the properties.
     
  6. Chelleville48

    Chelleville48 New Member

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    Yeah working through a broker. Buying off the plan. I'm a First Home Owner so aiming to get the grant. The bank hasn't valued it yet. We like the area as it's on the same street as the Telstra exchange (super fast internet speed), primary school next door and a college at the end of the street. So getting it rented wouldn't be a problem.

    Buying an older house and renovating is definitely our goal for our next one though l.
     
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  7. HUGH72

    HUGH72 Well-Known Member

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    As others have suggested in Goodna you can buy a house for considerably less than this, might be a better option.
    Looking at Sunnybank hills for example there are townhouses available for sub 400k:
    Unit 31 245 Hellawell Road Sunnybank Hills Qld 4109 - Townhouse for Sale #124657234 - realestate.com.au
    Edit, this one might be near high voltage power lines possibly.
    Not new and I not suggesting to buy something like this but it appears much better value and is rented for $390 per week.
    Or this in Kuraby, potentially sub 300 k :5/84 Saint Andrew Street Kuraby Qld 4112 - Townhouse for Sale #127275790 - realestate.com.au
    Just my opinion.
     
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  8. trp35

    trp35 Well-Known Member

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  9. Chelleville48

    Chelleville48 New Member

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  10. Chris Au

    Chris Au Well-Known Member

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    I am wondering if the tail is wagging the dog here. You are keen to get the FHOG when there are cheaper properties in the same area with possibly better fundamentals. Is the $14 or $7K FHOG worth it if you're paying $30,40K or so over what you could get other properties for.

    Do you know what they would rent for. How much out of pocket would you be with the likely rent, what are renters looking for in the area.
     
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  11. trp35

    trp35 Well-Known Member

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  12. Chris Au

    Chris Au Well-Known Member

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    Pretty sure it does. Needs to be first purchased property by either the property or their spouse. Check Qld government docs on that one or solicitor.
     
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  13. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    The target market for Qld FHOG product is exactly those people that otherwise wont OR cant get into the market.

    While this makes little sense to most here, they are missing the point.

    Buyer perception is ...........


    Property that qualfies for FHOG = on the ladder

    or

    property thats better but doesnt qualify = unachievable dream

    ta
    rolf
     
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  14. Chelleville48

    Chelleville48 New Member

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    I wanted to get the 20k FHOG to get into the market. Why waste that 20k when I'm eligible for it... that's still quite a lot of money. I'm just looking at new properties atm for my first one and Goodna seems like a good area for investment.

    The townhouse at Stuart St for $365k is really a lot of money though so I'm in two minds about it.
     
  15. Luke T

    Luke T Well-Known Member

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    Hi guys ,
    Like others have said -townhouse in Goodna for $365k is way too much to spend.
    You can buy much better areas for less .Don't do it .You could get a townhouse for $180K around these areas. A key when doing yr DD is don't pay above the median price for the area
     
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  16. See Change

    See Change Well-Known Member

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    365 for a new town hours in GOodna - No NO . Doesn't make any sense to me for any kind of FHOG .

    The one in Alice street with Granny Flat potential looks interesting

    If you dont want to have the garnny flat option then these two look interesting . We have one in Nagel St and have no problems with it

    34 Janice Street Gailes Qld 4300 - House for Sale #127175082 - realestate.com.au

    5 Nagel Street, Gailes, Qld 4300 - House for Sale #127279758 - realestate.com.au

    Floor boards don't cost that much to get polished and Sarah Jane the PM at the selling agent organised this for us . You may want to put in a new kitchen , but if it's structurallly sound you don't need to , to rent it .

    CLiff
     
  17. See Change

    See Change Well-Known Member

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    We're happy with the buys we made in Goodna . We've hit the servicability barrier and have actually sold a couple of properties which were really nice properties but cash flow negative, but still hold in Goodna and if I was looking to buy in Brisbane , at a lower price point , its where I'd be going..

    If I could buy at the moment , I'd be buying in Hobart but a BIG reason for that is that I hold a lot more in Brisbane than in Hobart. If my holds in brisbane and hobart were switched , I'd probably buy in Brisbane

    Cliff
     
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  18. Brooke Colledge

    Brooke Colledge Member

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    I am not sure the return would be there, expecting somewhere up to $360 per week. Depending of course on the body corp fees etc. you may have more luck like others have said to invest in existing for a better return.
     
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  19. Tom Rivera

    Tom Rivera Property Manager Business Member

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    I'm not a big fan of these new townhouses, the prices are eye-watering. There's often tricks with the rental return and body corp fees to get you in there, and newness is no guarantee of decent neighbours. If you're absolutely intent on using your FHOG - which I can totally understand- you could easy build a new house for that price, though you'd probably want to spend closer to $400k to build something ideal.
     
  20. Decbull

    Decbull Active Member

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    I ve been looking at Goodna and very keen on it. Are there any areas to avoid in Goodna?
    It also looks like that there are older houses on larger allotments (600+sqm) on the eastern side but newer houses on smaller (450sqm) on the western side. Which do you think is a better buy in terms of yield and growth?
     

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